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Finances under control: budget with template
Use a budget plan to get a quick overview of your spending and do more with your money.
Would you like to (better) organize your personal finances? Or do you have your sights on something specific, but just can’t seem to set the needed money aside?
A budget plan helps you control your spending and save to meet defined goals. Get started straight away – with our budget template and helpful tips.
- Download our budget template
- Enter income and fixed costs
- Estimate variable costs
- Draw up budget plan
- Regularly review the budget
- Celebrate and enjoy your success
First, enter your income and your fixed costs into the budget table. “Fixed costs,” as the term makes clear, are expenses that must be paid regularly.
Typical fixed costs include:
- Housing costs (rent, utilities, electricity)
- Insurance premiums (health insurance, supplementary insurance, liability insurance, and others)
- Internet, TV and streaming services
- Mobile phone subscription
- Public transport subscription
- Other subscriptions and memberships
You can transfer these monthly costs directly. Expenses such as the cost of a travelcard are best divided over twelve (months). This way, you know how much you need to plan for and set aside each month. But watch out: some months you may come up short if several annual or semiannual payments come due at the same time.
The next step is to consider variable costs. These are also sometimes incurred on a regular basis but aren’t always the same amount.
They include:
- Household costs: food, hygiene products, household items, etc.
- Mobility: irregular expenses for car, bike, and public transportation (such as fuel, repairs, service, and single tickets)
- Personal expenses: shopping, hairdresser/cosmetic treatments, vacations, leisure (eating out, going out, events, hobbies) etc.
- Taxes
- Savings, gifts, and donations
You have two ways to get a first estimate of how much you’re spending: Record all your monthly expenses from now on and organize them into different categories. Or look at your past bank statements and invoices retrospectively. This is easy if you use Digital Banking and dedicated tools such as UBS key4 insights.
For a more accurate estimate, take the average value of your previous spending over several months. It’s also best to include major one-off events such as trips or festivals as well as taxes in the monthly accounts. To do this, simply divide the estimated costs by twelve.
Do you use a credit card with monthly billing? Take a detailed look at this billing cycle and assign the expenses to your budget categories. As a rule, be careful with “buy now, pay later” payment offers to avoid falling into the debt trap.
You now have an initial overview of all your income and expenses. Take a look at the various cost items: What do you spend a comparatively large amount of money on?
Once you’ve identified these “money guzzlers,” ask yourself: “Could I spend less here?” Using our day-to-day savings tips, this is easier than you think.
Go through the various expense items. Discover potential savings and set priorities: What’s most important to you? Which items are you unable or unwilling to save on? Where can you reduce your spending?
Once you’re clear about this, allocate your disposable income to the various expense categories accordingly – and your budget plan is ready.
How do I know how much each item in the budget plan may cost?
How much of your income you spend on certain things is highly individual. Taxes are directly related to your income and place of residence. Fixed costs also depend heavily on your place of residence. Additionally, variable costs reflect your lifestyle and personal preferences. How much you want to set aside regularly depends on your need for security and your financial goals.
Nevertheless, there are some guidelines you can use to start:
- In many budgets, fixed costs eat up about half of income.
- It’s recommended that rent should not exceed one third of your net salary.
- The amount of the tax bill varies greatly. In Switzerland, however, the share of income typically should not exceed 12 percent (for single persons without special assets or obligations).
Tip: It’s better to put a little more aside and be happy about the reserve at the end. - You should set aside around 20 percent of your income each month. More is always possible, less is also good. The main thing is to start as early as you can and do this every month without interruption.
- After deducting fixed costs, taxes, and savings, there is around 20 to 30 percent left for day-to-day living and personal needs.
Regularly conduct a reality check to ensure that your budget plan works: “Do my actual expenses correspond to what I originally planned? Is some of my income left over so that I can regularly put something aside?” Do this weekly, every two weeks, or once a month.
It works best if you schedule a regular “money date” with yourself: record expenses, discover “money guzzlers” and savings potential. Adjust your budget as necessary. And be happy and celebrate in the knowledge that you are taking care of your finances.
As with everything, you need to take the time to think your way through a budget plan. We’ll show you what you should keep in mind to make it particularly painless.
Work with standing orders and eBill
Scheduled and automatic payments can prevent you from spending money you don’t have. For example, certain amounts leave your account automatically at the appointed time, e.g., directly after you receive your wages.
eBill allows you to receive invoices from various providers (e.g., insurance companies, electricity providers, internet providers, or public transport operators) directly in your Digital Banking. You can have them paid automatically at any time by standing order or decide when the amount should be debited.
Use standing orders so that other fixed costs such as rent are transferred automatically. Standing orders are also helpful for transferring money from your private account to savings accounts. This lets you put money aside automatically without having to think about it every time. For example:
the monthly share for costs that are only billed quarterly, semiannually or annually
- the estimated percentage of your salary for taxes
- the fixed amount you want to save each month: for reserves (planned and unplanned expenses as well as short-term purchases), retirement provision and to gradually build up assets for other goals
For unforeseen expenses such as medical costs or repairs, we recommend: if you have about three months’ expenses set aside as a safety cushion, unexpected bills won’t upset you.
Plan a buffer in your budget and stay calm
When you create a budget plan for the first time, you may forget one or two cost items. You should therefore plan a small reserve for “miscellaneous” as a precaution. That way, your entire budget won’t be thrown off if you think of an expense later.
In general: The first version of your budget plan will not entirely match reality. Budgeting is a process: Make adjustments several times as necessary. Your budget will become more accurate over time – and the updating gets faster.
Reserve an amount to spend freely and enjoy
Regularly setting aside money for the future is important. But to keep yourself motivated, it also helps to reward your saving discipline. Spend the freely available amount in your account with a clear conscience. And enjoy the things and moments you’ve made possible by setting this money aside.
